“Just Google it” may be a common phrase these days, but that doesn’t mean it should be your sole source of information. While the internet is a helpful tool for many different things, it still doesn’t replace the practicality of experience and education.
Unfortunately, in the era of internet information, more and more people are choosing to forgo a Realtor and attempting to buy and sell themselves. This may seem tempting for a number of reasons, but can actually cost both buyers and sellers thousands of dollars in the long run.
Here are my top three reasons for always using Realtor in real estate transactions.
1. They Have Years of Education
It’s a safe assumption that if you’re googling how to buy or sell a home without a Realtor, you probably haven’t done it before. As someone who works in real estate I can guarantee that no amount of research can prepare someone for the extensive legality that goes into real estate transactions.
Realtors spend months, sometimes even years, studying for their real estate license, and even then there is a steep learning curve between learning real estate and practicing it. Not only that, but agents often times have specific knowledge of listings and areas that isn’t available to the general public.
This insider knowledge is how Realtors generally decide how to price a home for sale, or advise about acceptable offers to place on a home. Apart from this, an experienced realtor also often develops an extensive network of attorneys, mortgage brokers, and contractors that provide knowledge inaccessible to those outside the industry.
2. They’re Bound by Ethics
Oftentimes, people decide to leave out a Realtor from a transaction because they don’t want to pay the associated fees, or believe that they will be able to get a better deal without outside interference. These are common misunderstandings that often have disastrous results.
As a home seller, agents representing the listing have a legal obligation to the listing. This means that the agent is legally bound to work in the best interest of the listing. There is no advantage in excluding a Realtor as a home seller because you do not gain any negotiating leverage — in fact, you’re more likely to sell your home with help from a Realtor due to their resources and exposure.
For home buyers, the negatives of excluding an agent from the process also outweigh any benefits. If you have little experience in real estate transactions, you can even potentially cost yourself money by not being able to recognize potential red flags that come up during appraisals and inspections.
3. Your Best Interests Are Their Best Interests
With the popularity of shows like Million Dollar Listing and other HGTV offerings, there is a common misconception about the “greedy” real estate agent emerging, who only cares about big-ticket listings. However, you might be slightly surprised to know that the majority of real estate dealings are not million dollar listings, not even close.
In fact, you may be even more surprised to know that real estate agents, including myself, do not get paid any commission at all if the transaction falls through. What this means is that your best interests are our best interests.
So while the media may portray agents as villains for a TV show’s narrative, you should never feel that your real estate agent is not acting on your best behalf because there is no benefit in them doing so. Agents accept the inherent risk of devoting hours of hard work for possibly no pay simply because they truly believe in what they do, and have a dedication for real estate that the “For Sale By Owner” may not.
Need More Information?
Knowledge is your best resource in real estate, no matter if you’re buying a home or selling a property. As your local real estate expert, I know the Lake Norman area and am happy to provide you with the best information I can, making it easy to find your dream home, or sell a home for top-dollar.
Ready to begin your real estate journey? Call me today to get started.